Users can borrow against their Bitcoin with a loan-to-value ratio of 50%, starting at an annual percentage rate of 12%. Two repayment options are available: monthly interest payments or a lump-sum at maturity with an APR of 13%.
Jack Mallers co-founded a new public company, 21, aiming to leverage Bitcoin in traditional financial markets. 21 plans to go public through a SPAC merger while focusing on Bitcoin-native revenue models.
Mallers addresses concerns about institutional involvement in Bitcoin, arguing that Bitcoin’s open protocol supports inclusion and engagement from all financial participants, which he views as a necessary evolution.
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